Pattonair eyes £200m sale

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Pattonair, a supplier to the defence sector, is to be put up for sale for more than £200m. The company’s listed parent Umeco, has appointed Rothschild to advise on the sale of the business. Lloyds Banking Group’s private equity unit, Lloyds Development Capital, is said to be in exclusive talks as a potential buyer. The Derby-based firm supplies parts to Rolls Royce, BAE and Boeing and employs more than 250 staff.